Why is Miami the Nation’s Hottest Spot for Entrepreneurship? Meet 3 Startups There Warming it Up
Miami is hot, but the entrepreneurial startup scene is hotter.
He was running out of money, and in tears after famously being turned down by ABC’s Shark Tank in 2013–rejected after he sunk more than $10,000 into building props for the pitch, and dropped everything to prepare for the show with his staff of eight.
It wasn’t the first time Jamie Siminoff and his Smart doorbell had been rejected. But with millions of people watching, it was by far the biggest stage. But the passion for Ring was deeper and richer than anything else he’d worked on. His obsession was palpable. More than four years later the hard work paid off. Last Tuesday Amazon agreed to buy Ring. And the deal could cost Amazon over $1 billion, according to Reuters. But for Siminoff it was never about just the money.
He’s been an inventor who has been tinkering since he was seven years old. But despite success with other businesses he wasn’t fulfilled.
FreeEnterprise.com spoke to Siminoff at his offices in Los Angeles about how a return to the garage allowed him to stumble on the idea for RING. He also told us why he kept at it even though people thought he was crazy and why he thinks doorbells may be an essential tool for creating a safer, smarter future. Take a look at the video above for more!